Couchbase (NASDAQ:BASE) Sees Unusually-High Trading Volume – Here’s What Happened

Shares of Couchbase, Inc. (NASDAQ:BASE) saw strong trading volume on Wednesday . 1,073,439 shares changed hands during trading, an increase of 116% from the previous session’s volume of 497,155 shares.The stock last traded at $13.18 and had previously closed at $13.17.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Wells Fargo & Company cut their price objective on Couchbase from $23.00 to $20.00 and set an “overweight” rating on the stock in a report on Wednesday, February 26th. UBS Group cut their target price on Couchbase from $19.00 to $18.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 26th. Truist Financial assumed coverage on Couchbase in a research note on Thursday, December 12th. They issued a “buy” rating and a $21.00 target price on the stock. Morgan Stanley cut their target price on Couchbase from $25.00 to $23.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 26th. Finally, Guggenheim cut their target price on Couchbase from $30.00 to $26.00 and set a “buy” rating on the stock in a research note on Wednesday, February 26th. One research analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Couchbase has an average rating of “Moderate Buy” and an average target price of $22.19.

Couchbase Trading Up 1.5 %

The business has a 50-day moving average price of $16.92 and a two-hundred day moving average price of $16.73. The stock has a market capitalization of $757.48 million, a P/E ratio of -9.04 and a beta of 0.81.

Couchbase (NASDAQ:BASE) last released its earnings results on Tuesday, February 25th. The company reported ($0.30) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.22). The company had revenue of $54.92 million for the quarter, compared to the consensus estimate of $53.25 million. Couchbase had a negative net margin of 39.31% and a negative return on equity of 57.22%. On average, sell-side analysts forecast that Couchbase, Inc. will post -1.48 earnings per share for the current fiscal year.

Insider Activity

In related news, SVP Huw Owen sold 14,742 shares of the company’s stock in a transaction on Friday, January 24th. The stock was sold at an average price of $18.05, for a total transaction of $266,093.10. Following the completion of the sale, the senior vice president now directly owns 311,251 shares in the company, valued at $5,618,080.55. This represents a 4.52 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Margaret Chow sold 15,000 shares of the company’s stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $18.31, for a total value of $274,650.00. Following the completion of the transaction, the senior vice president now directly owns 133,067 shares of the company’s stock, valued at approximately $2,436,456.77. The trade was a 10.13 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 51,030 shares of company stock worth $892,581. 16.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Couchbase

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Mackenzie Financial Corp acquired a new position in Couchbase in the 4th quarter worth about $382,000. Two Sigma Advisers LP increased its holdings in Couchbase by 32.4% in the 4th quarter. Two Sigma Advisers LP now owns 47,800 shares of the company’s stock worth $745,000 after purchasing an additional 11,700 shares in the last quarter. ProShare Advisors LLC increased its holdings in Couchbase by 36.7% in the 4th quarter. ProShare Advisors LLC now owns 14,828 shares of the company’s stock worth $231,000 after purchasing an additional 3,979 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Couchbase by 5.1% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,361 shares of the company’s stock worth $349,000 after purchasing an additional 1,076 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. increased its stake in shares of Couchbase by 5.8% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 588,439 shares of the company’s stock valued at $9,174,000 after buying an additional 32,078 shares during the period. Institutional investors and hedge funds own 96.07% of the company’s stock.

About Couchbase

Couchbase, Inc provides cloud database platform for enterprise applications in the United States and internationally. Its database works in multiple configurations, ranging from cloud to multi- or hybrid-cloud to on-premise environments to the edge. The company offers Couchbase Capella, an automated and secure Database-as-a-Service that simplifies database management by deploying, managing, and operating Couchbase Server across cloud environments; and Couchbase Server, a multi-service NoSQL database, which provides SQL-compatible query language and SQL++ that allows for a various array of data manipulation functions.